Life Insurance

Life insurance is a necessity when your loved ones rely on you and your income to cover everyday expenses. Yet, figuring out how much life insurance you need can often feel overwhelming.

Many employers in Canada offer group benefits as part of a standard compensation package, typically including life insurance and extended healthcare.

No matter your age, planning for your death can feel scary and morbid. So, it’s no wonder Canadians are procrastinating on tasks like end-of-life planning. According to Willful’s 2025 ‘The Great Delay’ study, only 30% of Canadians have discussed a financial emergency plan with their family.

Life insurance is a core element of long-term financial planning for many Canadian families. It provides a financial safety net for your loved ones by paying a tax-free death benefit upon your passing.

Purchasing life insurance can reduce the financial burden on your loved ones and help build and transfer wealth, but are there any tax implications you should know about?

If you’ve ever taken out a mortgage, car loan, or line of credit in Canada, you may have come across one final question before wrapping up: Do you want creditor insurance?